Common use of Balance Information Clause in Contracts

Balance Information. We use the daily balance method to calculate the interest on the account. This method applies a daily periodic rate to the principal in the account each day. You must maintain a minimum balance of $1,500.00 in the account each day to obtain the disclosed annual percentage yield. Limitations: You must deposit $200.00 to open this account.

Balance Information. We use The Bank uses the daily balance method to calculate the interest on the account. This method applies a daily periodic rate to the principal in the account each day. The daily balance is based on the collected balance. You must maintain a minimum daily balance of $1,500.00 in the account each day 10.00 to obtain the disclosed annual percentage yield. Limitations: You must deposit $200.00 10.00 to open this account. Account Fees: Each month you will be assessed a service charge of $10.00. You may avoid this charge if you maintain, each day during the monthly cycle, a daily balance of at least $2500.00.